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Executive Summary
Overview
Go and Grow proposes to develop a new iOS social media application to connect students
studying abroad with students in the destination country. With the use of geolocation, in-app
communication, and multi-language support, Go and Grow allows students to make the most of
their once in a lifetime experience and give local people and businesses a chance to show off
their home country. With Go and Grow, users will create relationship networks by posting
questions, connecting with locals, and accessing information not provided by their program,
making the student feel more comfortable before they depart and while they are in their study
abroad country.
Why Go and Grow?
Studying abroad has become a vital part of the college experience. However, many
students admit to struggling with barriers that hinder them from their experience such as
language, culture, homesickness, social differences, and culture shock. According to Ed Tech
Review, “63% of students said that they want to talk to international students at the school
before,” studying abroad (Understanding the Study Abroad Market, 2022). Go and Grow will
utilize online platforms to help students quickly find their comfort zone while enjoying the
benefits of studying abroad.
The Market/Consumer Trends
Currently, social media is taking the world by storm with the overall market estimated at
about $49.09 billion which is expected to grow 26.2% in the next decade (Social Networking
App Market Size Report, 2028, n.d.). With nearly 9 in 10 Americans online (Smith, 2017), now
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is a perfect time for a social media app. Studying abroad is another market on the rise with
948,519 students studying abroad from 2021 to 2022 (Duffin, 2021). Students studying abroad
are looking for ways to enhance their experience and Go and Grow will do just that.
Starting in northwest Arkansas, our minimal viable product will be tested focusing on
University of Arkansas local and international students. Students are looking for a once in a
lifetime experience by studying abroad, and with 1,214 international students traveling to the
University of Arkansas campus, this is a perfect test market for Go and Grow before expansion
into other countries.
Management
Piper Duke is the sole owner and manager of Go and Grow. Her international business
degree and study abroad experience will provide her with extensive knowledge into the market
and customer needs for developing the application. Go and Grow plans to outsource the
application developer and hire additional employees as needed.
Uses
Go and Grow is a customizable platform for students to connect with others abroad. It
will offer students personalized tabs to make their own profile including a profile picture,
biography, and their previous posts. Its personalized news feed will provide the user with the
ability to make posts, comments, likes, reposts and chat with other users. The application focuses
on locations services so the user will be able to view a map to find hotspots of where locals and
tourists are located. Depending on the date and time, there will be a “What’s Going On” tab to
show local events, activities, and festivals. Users will be able to post transient content to that
specific location about current events. Additional features will be accessible beyond typical
social media aspects such as helpful resources on visas, cultural norms, and academic support.
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Info on the Business
Design
The design of Go and Grow will be a sleek, easy-to-use interface, which will focus on
geolocation services, such as GPS coordinates, location tracking, and map integration. We also
will ensure data safety for users. Once hired, the application developer will be able to provide
more information on this section.
Accounting
The primary sources of revenue for Go and Grow will be university partnerships and in-
app advertisements. With universities encouraging students to download our app, it would
provide us with much more usage as well as allowing the application to be free to download to
students. Advertising by local businesses will provide a great way to showcase new areas of
interest to students as well as giving the businesses access to a new market of international
students.
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Financial Documents
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Future Plans
As the app gains momentum, we hope to expand partnerships with universities all over
the world giving people who study abroad access to benefits of our app. With the market for
social media and study abroad on the rise, we see a continuous use of networking platforms
meaning continuous success for our app. We want to eventually gain recognition among the top
users of social media. As we grow, we will review other markets for expansion.
Legal
Go and Grow is an LLC and will expand when needed. We will adhere to the State of
Arkansas laws and regulations. Confidentiality and data protection laws will be strictly adhered
to, including those specific to the European Union. Also, some international media laws, such as
in China, limit social media usage. We will be sure to comply with the standards set by each
country.
Timeline
The development for the application will take under a year. After the development, a test
market will focus on University of Arkansas students traveling to the most popular study abroad
location, the Rome Study Center and international students studying abroad in Fayetteville. This
test market will allow us to connect with four phases of students throughout the year to observe
what went well, what challenges remain, and complete the app for usage in the United States in
2026. Expansion should be completed in the United States, and we aim to grow to worldwide
usage starting in 2025.
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Market Analysis
Customer Market
Despite the COVID-19 pandemic, study abroad numbers have reached pre-pandemic
status with about 325,329 United States students studying abroad in 2015-2016 and about
948,519 students coming to the United States to study abroad. This would be our customer base
after expansion. Before expansion, the University of Arkansas offers a market to approximately
1,400 international students (Assessment of Programs University of Arkansas, n.d.) making an
excellent test market for the minimal viable product.
The problems students face when studying abroad include language barriers, culture
shock, feeling comfortable, educational differences, and overall integration (Torrens). Go and
Grow plans to allay these. With the increase in students studying abroad and 4.48 billion social
media network platform users in 2021 worldwide (Dean, 2021), we eliminate see an expanding
and viable market for Go and Grow.
Competition
Currently, there are no apps directly competing with Go and Grow. However, we do see
limited competition from other social media apps such as Instagram, Twitter, or Facebook. These
apps have groups for study abroad, however, they are hard to navigate and do not provide the
information or connection most students are looking for. Also, there are two study abroad apps,
Leverage Edu and Yocket, which provide information to study abroad applicants, but they do not
seek to utilize the social media aspect and are both based in other international areas, not the
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United States. Go and Grows’ focus will provide students a niche app untapped by those
platforms.
Competitive Advantage
Our competitive advantage is the niche app market we are serving. While groups for
studying abroad pop up in other social media sites, they are hard to navigate and provide limited
“real time” interaction opportunities. Go and Grow aims to make those connections abroad while
immediately presenting up-to-date information in a clear and concise manner.
SWOT Analysis
Strengths:
Studying abroad is a niche market
Easy to navigate interface
Free to partnered university students
Helps students navigate studying abroad
Eases the feeling of uncomfortableness
Weaknesses:
Social media is a generally competitive
market
Gaining initial partnerships
Opportunities:
Expansion to new markets in the US and
around the world
Gaining partnerships with external study
abroad programs
Expanding beyond students study abroad
Threats:
Established social media networks
The cost of development
Time to develop
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Test Marketing
To test Go and Grow, we plan to start with a minimal viable product and utilize the
University of Arkansas international students in Fayetteville. With the close proximity to our test
market, we will be able to implement changes and assist as needed within a short amount of
time. We plan to collect feedback from users through surveys and questionnaires. After thorough
testing, we will expand our test market to the students studying abroad in the University of
Arkansas Rome Study Center. This popular destination for Arkansas students will provide us
enough information to implement our application abroad. Once completed, we plan to expand to
other universities in the United States, eventually reaching worldwide usage while focusing on
popular study abroad destinations.
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Market Strategy
Sales/Promotion Strategy
Students at universities are increasingly becoming aware of studying abroad and gaining
the “local” experience. We want to encourage students studying abroad and locals to download
the app to make the most out of exploring the world. Go and Grow plans to enter the market
through university partnerships, starting with the University of Arkansas. We will promote at the
study abroad office for students to have even more access to Go and Grows information. The
detailed promotion strategy will include email campaigns, campus social media and in-person
promotion through specific study abroad offices or campus events. Flyers will be included in the
materials students receive when they register for their excursion. To encourage downloads
further, we will organize a raffle awarding prizes and scholarships for students studying abroad.
By adding a small fee to the students’ study abroad tuition, students can download Go
and Grow and use its resources in the future for free. While conducting the test market, we will
provide a reduced rate as we are collecting data. After testing, pricing for the one-time fee will
be dependent on the size of the university and the number of students who study abroad there.
Community Involvement
Go and Grow will provide involvement opportunities for businesses around each location
and provide a stronger sense of community among international and local students. In the
“What’s Going On?” tab, we will showcase opportunities such as volunteering, student groups,
and town events. Partnerships with local businesses will support the community and boost the
local economy allowing local and international students the opportunity to connect deeper with
local dynamics.
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Conclusion
I see Go and Grow as a profitable opportunity. Within this competitive market, Go and
Grow is a niche prospect in the world of social media. Conducting this business plan was a
beneficial way to understand how to build a business from the ground up and execute it
successfully. With limited information however, I did need to make assumptions that would be
improved with real world conversations and interactions. With that in mind, to make a confident
decision I would need to conduct more market testing and customer analysis to start Go and
Grow with certainty.
